Midday update for AUDUSD 25-05-2017
Economies.com
2017-05-25 10:53AM UTC
The AUDUSD pair bounced downwards clearly after reaching the first target at 0.7519, to approach from testing the key support 0.7451, and as long as the price is above this level, the bullish trend scenario will remain active for the upcoming period, waiting to breach 0.7519 to confirm opening the way to head towards 0.7604.
Stochastic negativity interprets the reasons of the current decline, while the EMA50 keeps providing the positive support to the price, reinforcing the continuation of the suggested bullish trend.
Expected trading range for today is between 0.7451 support and 0.7604
Expected trend for today: Bullish
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